Logistics and delivery firm Dunzo plans to settle dues of former employees in next three months while it is regularising salary for its current employees, sources said. The firm backed by Reliance Retail and Google said that while its co-founder Davlir Suri has decided to leave the company, another co-founder Mukund Jha will continue be part of the strategic leadership team. "In June salary of 85 per cent employees were paid.
Though the exact amount of stake dilution is not known, Pantaloon Retail's Managing Director Kishore Biyani said the company would divest more than 20 per cent shares. Future Ventures will house the company's JVs and new ventures.
The Supreme Court is scheduled to pronounce on Friday the verdict on e-commerce giant Amazon's pleas against the merger of Future Retail Ltd (FRL) with Reliance Retail and is likely to decide whether Singapore's Emergency Arbitrator (EA) award, restraining the Rs 24,731 crore deal, was valid under Indian law and can be enforced. As per apex court website, the verdict would be pronounced at 10.30 AM by a bench of Justices R F Nariman and B R Gavai which had reserved it on July 29 after hearing battery of lawyers including senior advocates Harish Salve and Gopal Subramanium, appearing for FRL and Amazon respectively. The verdict is keenly awaited as it is likely to deal with the legality and enforceability of an award by an Emergency Arbitrator (EA) of the foreign country here in view of the fact that the term EA is not used in the Indian Arbitration and Conciliation Act.
Identifying Indian youth as engine for growth of retail sector, global professional services firm Ernst & Young said on Friday they offered a huge consuming audience for lifestyle and luxury products.
Our years of working with leading brand manufacturers around the world have taught us that there is no silver bullet.
Shoppers Stop is looking to open four new stores this year and plans to invest Rs 120 crore.
While looking at consumer behaviour in the post demonetisation period, the research found that rural consumers were equally enthusiastic about cashless payments.
Kishore Biyani's Future Group is getting its act together on supplying its private labels outside the group's 1,000-odd outlets, even as Mukesh Ambani's Reliance Retail has already marched ahead by starting to sell some of its private brands to kiranawalas (independent stores).
The head of leading Indian bank ICICI Bank said on Monday he expected growth in the firm's retail business, which helped fuel better-than-expected third-quarter results, would continue into the fourth quarter.
Global trends, trading activity of foreign investors and movement of oil benchmark Brent crude would dictate terms in the domestic markets this week, analysts said. Equity markets, which fell nearly 3 per cent last week, may face volatile trends amid the monthly derivatives expiry on Thursday. "This week marks the September month Futures and Options (F&O) expiry, which is expected to bring about volatility in the market," said Santosh Meena, Head of Research, Swastika Investmart Ltd.
The blast at The Rameshwaram Caf has caused distress and concern among the startup and information technology (IT) community, raising questions related to safety and security. Approximately 10 people were reportedly injured in a low-intensity bomb blast at The Rameshwaram Caf, a popular restaurant in Bengaluru's Brookfield. The surrounding area is a major hub for the Indian technology (tech) industry, housing many startups and top IT companies such as IBM, SAP, Accenture, International Tech Park Bangalore, and Prestige Technostar.
Durable retailers have lined up a series of offers to lure customers during Christmas and New Year's eve
Puri said ITC will focus on health and wellness products within the FMCG vertical. He also said the company will attempt to reinforce the existing categories in the FMCG segment.
'More than investors, fund houses, and advisors have raised caution and limited flows on small-and mid-caps.'
The Reserve Bank on Friday retained the inflation forecast for 2023-24 at 5.4 per cent, and vowed to take timely measures to prevent any spillovers of global food and fuel price shocks. Stressing that the Reserve Bank has identified high inflation as a major risk to macroeconomic stability and sustainable growth, Governor Shaktikanta Das said the September retail inflation number may be lower than August and July prints. The headline inflation based on Consumer Price Index (CPI) moderated to 4.6 per cent in first quarter of 2023-24 as compared to 7.3 per cent in the same period a year ago.
RBI's projection of retail inflation at 6.8 per cent in the current fiscal is neither too high to deter private consumption, nor so low as to weaken inducement to invest, the Economic Survey said on Tuesday. However, entrenched inflation may prolong the tightening cycle and therefore, borrowing costs may stay 'higher for longer', it said. The Economic Survey 2022-23 was tabled in Parliament by Finance Minister Nirmala Sitharaman.
Even as India Inc lines up billions of dollars to invest in the country's retail sector, murmurs have arisen of fuzzy revenue models and a possible capacity glut.
Petrol and diesel are among the 90-plus commodities that have been approved by the government for derivatives trading
...benefiting 350,000 persons. Also, Trai detected and blocked seven million mobile phone connections involved in cyber fraud and suspicious activities.
Retailers and mall developers have seen 35-50 per cent growth in the first two weeks of the end-season sale.
At a time when the overall narrative is around India being an attractive investment destination, the two American multinationals are more specific in projecting India as their centrepiece.
Most Indian chief executives are optimistic about the economy and believe it would improve in the coming 12 months, said a survey by consulting and auditing firm PwC on Tuesday. The company's 27th annual global survey polled 4,702 chief executive officers (CEOs) in 105 countries and territories, including 79 in India, from October 2 to November 10, 2023. As many as 86 per cent of CEOs in India - 30 per cent higher than a year ago - are confident that the economy would improve.
Commodity investments can help you diversify your portfolio in asset classes other than equity and debt, says Dwaipayan Bose.
Future group has gone premium for the first time with Holii. A bag and accessories brand, it was soft-launched in 2009. The prices begin at Rs 700, with most of the bags costing upwards of Rs 1,800.
The JV will be set up in about 8-10 cities, including Hyderabad, Ahmedabad, Kolkata, Bangalore, Indore, Jaipur, Pune, Delhi and Mumbai. The investment is expected to provide significant synergies to the Future Group, which has a large advertisement budget and aligns well with the group's businesses such as Future Media, which has interests in media and advertising.
ONGC was the top loser in the Sensex pack, shedding 4 per cent, followed by Bharti Airtel, SBI, IndusInd Bank, NTPC, Sun Pharma and ITC. On the other hand, Bajaj Finance, Bajaj Auto, Reliance, Bajaj Finserv and Asian Paints were among the gainers.
Margins for the oil refining and retailing sector have moved off their peaks, and the average integrated margins (refining plus marketing) for oil marketing companies (OMCs) have normalised. The ascent in crude oil prices, combined with static retail prices, has depressed marketing margins for diesel and petrol. However, the fall in marketing margins has been offset by increased gross refining margins (GRMs).
Tata Realty and Infrastructure, a subsidiary of Tata Sons, is looking to expand its business with over 50 projects across major cities in India, Sri Lanka, and the Maldives. The combined projects boast a development potential exceeding 51 million sq ft, according to a top executive. The Mumbai-based real estate major has completed the first phase of project developments in Male (the Maldives), and is gearing up for the second phase. It has also expanded its footprint in Sri Lanka and plans to add about 2 million sq ft. in Colombo.
The biggest bounce is in the realty sector, where the industry index jumped 80%. There's been a turnaround also in automobiles and ancillaries (up 45%). The pharma and health care indices have a welcome return of roughly 35%.
The home loan top-up, a kind of secured multipurpose personal loan, is on the regulator's radar, points out Tamal Bandyopadhyay.
Ventures in areas such as insurance, financial services and logistics valued at Rs 4,500-5,000 crore ; company in talks with PE giants KKR and JP Morgan.
E-tailing, or online retailing, is catching up in India with major retailers setting shop online.
Kolkata, which has remained a priority centre for Future Group is also all set to get three more Pantaloon stores by the festive season in 2011. The group has finalised locations for Madhyamgram, Lake Mall and Jessore Road.
20 start-ups that beat decades old companies in valuations.
The wholesale price-based inflation eased to a 29-month low of 1.34 per cent in March on easing prices of manufactured products and fuel items, even though food articles turned expensive.
ETAM, the French lingerie brand that has a joint venture with Kishore Biyani's Future Group, recently pulled out of Palm Beach Galleria mall in Navi Mumbai, together with six other retailers such as grocery chain Foodland Fresh and Manoranjan sarees.
The equity cult has grown at a rapid pace in India in the last few years, with retail investors latching on to the stock markets like never before. At 126.6 million, the number of dematerialised (demat) accounts, where investors hold their securities in electronic form for trading purposes, are at record high levels. The growth rate, on an annualised basis, stood at 27 per cent in 2022-2023, up from barely 6 per cent a decade ago.
